News : Economy

Over the past week, there have been several instances of the Iranian government coming under new pressure or being subject to renewed condemnation over what is widely alleged to be an escalating crackdown on political dissent and advocacy for human rights.

On Wednesday, Market Watch reported that collective oil production by the Organization of Petroleum Exporting Countries had risen by 40,000 barrels per day, to an average of 33.08 million in the month of November. Such developments help global oil markets to avoid the sharp price increases that some people expected to result from US withdrawal from the 2015 Iran nuclear deal.

INU- Iranian parliament speaker Ali Larijani admitted on Monday that Iran is currently facing "chronic challenges" that existed long before US sanctions were reimposed, including a water crisis and a "big, costly government".

INU- Iran’s inflation rate has risen by nearly 35% from last year, according to the Iranian Statistical Centre, which calculated the rate based on price indexes for consumer goods and services between October 23 and November 22.

Earlier in November, Iranian Foreign Minister Javad Zarif made public remarks that acknowledged the prevalence of corruption and graft among government officials and highly-connected businesses in the Islamic Republic. Although Zarif declined to identify any organizations by name, he told the Khabar Online news agency that “a lot of people are benefiting” from the “reality” of money laundering, and that this had resulted in the misappropriation of “thousands of billions” of rials.

INU- Sources in the Iranian judiciary system said on Tuesday November 6th that two individuals have been sentenced to death because of their involvement with “organized and systematic disruption” in the country’s banking network.